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Bear Stearns issues “Glowing” report on Getty Images
Bear Stearns has recently issued a report on Getty Images, Inc (GYI). In this report Bear Stearns analysts Jim Ballan and Ryan Casey rated Getty at Outperform based on their belief that the company’ stock is currently undervalued in the market.
After reading through the entire report (Yes all 34 pages) I was able to extract the following noteworthy statements.
“Getty is now the go-to portal for commercial imagery-using professionals. Its website, Gettyimages.com, is to stock photography what Ebay is to online auctions or Amazon to online book selling, with 80% of its clients saying that it is their first choice when looking for imagery.”
“Getty could experience gross margin expansion as it invests in and generates sales of wholly owned imagery for which Getty would not have to pay commissions.”
“We believe that the expansion of communications, including wireless communications, and accelerating penetration of broadband internet access make the use of imagery for commercial purposes increasingly compelling”
“Getty’s business today is split almost evenly between the Americas (50% of revenues in third-quarter 2005) and Europe (42% of revenues, which includes minor contributions for the Middle East and Africa). We believe that beyond the organic growth opportunity in those markets, the growth opportunity in key Asian markets, namely Japan, China, and India, has enormous potential.”
To access the entire report contact Jim Ballan or Ryan Casey at Bear Stearns.
Posted in: Features, Photographers, Stock Art Buyers, Stock Photo Companies
